Rhodes expects earnings to jump by more than 100%

Rhodes Food Group indicated today (13 November) it expects to full-year earnings to more than double.

In a regulatory filing, the South African group said normalised full-year earnings per share, excluding the one-off listing costs of ZAR21.8m (US$177,628) incurred in the 2015 period, are expected to be 132-137% higher at 86.3-88.2 cents per share.

The company forecast EPS to be 105-110% higher in the year ended 27 September, coming in at 76.3 cents to 78.1 cents per share versus 37.2 cents in fiscal 2014. Headline EPS, a key performance metric in South Africa, will increase by between 108% and 113%, the group added. Headline EPS is expected to come in at 76.8 cents to 78.6 cents.